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TimesLiveTimesLive15/07/2025
NEGATIVE

Bessent no-show, Brics tensions set to cast shadow over Durban G20 meeting

Bessent no-show, Brics tensions set to cast shadow over Durban G20 meeting

Executive Summary

The G20 finance chiefs' meeting in Durban is overshadowed by US Treasury Secretary Scott Bessent's absence and President Trump's tariff threats against BRICS countries, amid several US no-shows at recent gatherings. Trump has imposed a 10% baseline tariff on all US imports, with punitive rates up to 50% on steel and aluminum, 25% on cars, and potential 200% on pharmaceuticals, complicating dynamics as eight G20 members, including host South Africa, belong to BRICS. African economies grapple with $800 billion in external debt, slowing Chinese lending, and cuts in Western aid. These developments question the G20's viability, challenging South Africa's presidency goals of solidarity, equality, and sustainability.